Buy or pass: condo next door to the community pool

2 Replies

Newbie investor here. I am brand new to investing (reading and researching daily, though), and will close on my first investment property (not the one described below) at the end of this month.

I just viewed a beautifully renovated condo that I'm interested in purchasing for my second property. It's 3bdr/1.5ba, move-in ready, only its directly across from the community pool and playground. While these things might or might not bother some tenants, I personally would never consider taking up a lease in a location with the potential noise factor. Background: I'm childless, an introvert, and enjoy my peace and quiet.

Should I pass on this investment property because of the location? Am I projecting too much of my own preferences on this one?

I'm assuming the tenants would have kids since it's a 3bdr. What's your experience in renting out units near a potentially noisy area?

@Nadia G. I'd personally pass even if only 50% of people find it annoying (it is likely more) you are severely limiting your tenant pool.  Especially as you don't have your first property filled it might be prudent to wait before taking on an external obsolescence property.

@Aaron K. Good point. This unit has been on the market for about 45 days now. The average in this area is about 28 days or so. I'm thinking that the location could have something to do with that.

Thanks for your insight.

The one-stop-shop for REI
Find Local Home Improvement Pros!
Check out our network of trusted, local contractors for all of your home improvement projects.
Find a Contractor